Earlier quoted context omitted.
> what if you lose access to your key? Social recovery: https://vitalik.ca/general/2021/01/11/recovery.html > The other day someone suggested making real estate NFTs. Looking at the current implementations , it is a terrible idea. But it doesn't mean that the problem can not be solved. > What happens if the "owner" of some real estate loses their key? Just spitballing here: take the idea of social recovery further to…
But then it's just a government database. Might as well just use a government database - much simpler.
Can you take a collaterized loan on a share of your home from anyone in the world, if you have only the government database?
Can we have a "decentralized AirBnB" where you have can the NFT represents who have access to the house with "just a government database"?
Can you pool the resources from thousands of strangers to form a "REIT DAO", who then go on to invest on a scale that is only accessible for the Vanguards and Blackrocks around?
This would be simply too risky to be even considered by people if we constrain ourselves only to digital assets, but if we can have a system where the institutions work as a safeguard, why not leverage it?